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Inprova has more than 30 years’ experience of transforming procurement in the public, private and third sector. Through its use of technology, procurement analytics and category expertise, it enables organisations to enhance their procurement capability and deliver tangible results.
The management buyout has been led by Group CEO Steve Malone and his senior team. Steve has been with Inprova since 2008, moving to the Group CEO role in 2020.
The investment from NVM will enable the business to further develop its technology platform and procurement analytics capabilities to deliver enhanced value-added services to its customers addressing key category areas of construction and capital works, responsive and planned maintenance, building safety and net zero carbon.
Rob Fawke at Gunnercooke acted for Shawbrook.
Other advisers to the transaction were as follows:
- Steve Malone, Group Chief Executive of Inprova
Steve Malone, Group Chief Executive of Inprova said:
“This is an exciting development for the Group. We have ambitious plans to build on the strength of our existing technology platform alongside our category expertise and experienced procurement resource, creating sustainable value and supporting our customers to deliver on their business goals. Working with NVM will provide us the opportunity to deliver on our vision and accelerate growth in both new and existing categories and markets.
“It’s been great to have the support of Shawbrook in completing the MBO. They were a natural fit for us as a lending partner, the team understand our business and care about what we are looking to achieve going forwards.”
Andy Leach, Investment Partner said:
“We are delighted to be backing Steve and his team at such a pivotal point of their growth plans for the business. Inprova’s tech-led platform is the heartbeat of the business, driving efficiency, transparency and compliance for customers. With new investment, a highly experienced management team and its existing technology at its core, Inprova is well positioned for considerable future growth.”
Daniel Martin, Senior Director, Corporate Lending of Shawbrook added:
“We were immediately impressed by Inprova - the business has huge potential, especially under this management team and with backing from NVM. As a tech-led business ourselves, we understand Inprova’s vision and can see the value of its offering to its customers - this helped us with structuring a solution to fit their specific requirements.”
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